{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"CPG Due Diligence: The Operator Framework Behind a $1B Exit | Keith Levy Part 1","description":"Keith Levy, Operating Partner at Sonoma Brands Capital Keith Levy won\u2019t open the P&L until the founder passes. \u201cIf that one doesn\u2019t pass the sniff test, you don\u2019t even get to the product, the margin structure, the P&L, none of it.\u201d Keith is an Operating Partner at Sonoma Brands Capital and spent years buying companies for Mars Wrigley. He walks Kison through his five-pillar diligence sequence: founder, product-market fit, go-to-market, how the product is made, and financials last. A deal can fall apart at any one of those steps. He covers how a founder\u2019s candor about risk tells you whether to trust the numbers, what Touchland and Bachan\u2019s got right on product-market fit, and why he now asks what a brand owns instead of defaulting to asset-light co-manufacturing. Five pillars means five places for a deal-breaking finding to get lost. In DealRoom Diligence, each request carries an assignee, status, and due date, and each finding logs the risk, its owner, and a mitigation plan, linked to the data behind it. See how it works: click here.   ","author_name":"M&A Science","author_url":"http:\/\/www.mascience.com","html":"